Answered: Mahesh borrowed 8500 from bank to…

Mahesh borrowed 8500 from bank to purchase a cow and after 1 year he paid 9180 back to bank. Find the interest that was given by Mahesh.

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 25PROB

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Question

1. Mahesh borrowed 8500 from bank to purchase a cow and after 1 year he paid 9180 back to bank. Find the interest that was given by Mahesh. 2. Vikrant borrowed 12600 from a landlord. If the rate percent is 18% per annum, then find that how much money will he pay after 1 year? 3. Calculate the simple interest on 5000 at 4% per annum for 2 years. 4. Calculate the amount and simple interest on *6250 at 12% per annum for 3 years. 1 2 5. A farmer borrowed from a co-operative bank * 12500 to purchase a pump set at 8% per annum for 5 years. How much interest will he pay after 5 years? 1

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